Articles published 11/2019
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Schwab's headquarters shift to Texas amid TD Ameritrade merger seems to please nobody -- outside the Dallas Chamber of Commerce--Omaha feels especially omitted
November 28, 2019 at 4:56 AMPaper benefits -- no income tax, low corporate taxes, cheap labor, cheap space -- abound, but no Schwab, TD or USAA execs are committing to working there
Walt Bettinger sugarcoats nothing to TD Ameritrade RIAs about re-papering or technology and he calls 'modest' the importance of RIA revenues to Schwab
November 26, 2019 at 2:09 AMThe Schwab CEO stressed his soon-to-be Fort Worth, Texas-based firm's emerging alpha status: 'We're on offense. We press those advantages'
Schwab's reported TD Ameritrade deal leaves 10,000 RIAs in twilight zone as weekend begins with an unconfirmed, undenied merger report causing many to weigh options
November 23, 2019 at 9:17 PMThe RIA custodians are apparently merging despite view that separate ownership and approaches are the big reasons for parking assets there
Reported Schwab-TD merger is a 'blockbuster' combo that creates a 10,000-RIA, $2-trillion custody juggernaut and may signal long-expected industry shakeout
November 22, 2019 at 1:49 AMThe San Francisco and Omaha companies were the fiercest of rivals, so everybody presumed E*Trade would be the next domino to fall.
How Edelman Financial Engines spin-off deal became a RetireOne engine that's heating up the RIA annuity game again
November 20, 2019 at 10:19 PMThe fee-based annuities marketplace of Aria Retirement Solutions adds Edelman's broker-dealer, 6,000 clients, 'hundreds of millions' in client assets and an old hand
After hockey-stick 2019 AUA growth, and a half-pivot to 1099 model, Steward Partners gets first $50 million of external capital
November 19, 2019 at 4:24 AMThe Raymond James-backed roll-up spikes from $5 billion to $13 billion and gets more of an IBD model tacked on and the co-founders move past a legal dispute for now
Brian Hamburger gets Bill Crager, Joe Duran and a top Schwab executive in swing for 'insider baseball' feel at MarketCounsel Summit
November 18, 2019 at 10:36 PMRIA feedback guided toward less 'wow' factor and more RIA behind-the-curtain stuff and the golden oil that lubricates all events -- more recess to mingle and schmooze
Interim CEO Bill Crager no-comments sale rumors but affirms 'leadership clarification' is coming soon as Envestnet quickly converts 100 PortfolioCenter users to Tamarac
November 14, 2019 at 11:31 PMIn first quarterly meeting since Jud Bergman's death, wingman Crager had good news that includes major deal with Equifax
Focus Financial CFO admits firm needs to 'de-lever' and assures analyst $14-million splurge for posh new offices won't soon repeat
November 13, 2019 at 3:30 AMJim Shanahan say his New York-based roll-up will attempt to get to 3.5 debt-to-equity ratio and critics wonder whether that is signal of weak pipeline of deals
Lovell Minnick crashes the RIA party with purchase of $15 billion RIA -- a big sale for post-Hurley Emigrant Partners
November 12, 2019 at 4:05 AMThe Philadelphia-based investor also made owners of dozens of staff of 100-person Pathstone Federal Street.
Ken Fisher goes back on offense by attacking 'completely false' media claims and letting readers know the lost $4-billion of assets were easily replaced
November 9, 2019 at 4:55 AMThe founder and CEO of Fisher Investments used op-ed in local Washington paper to move past the apology phase and signal strength
Goldman Sachs & Co. appoints Rachel Schnoll to yank off United Capital band-aid that Joe Duran didn't -- making FinLife work with non-UC applications
November 8, 2019 at 4:52 AMThe New York-based investment bank has the cash and people to do the combinations -- especially Goldman software -- that the roll-up's founder couldn't afford or didn't want to advantage
Moneta Group got to $24 billion of AUM with an all-St. Louis strategy; now it's licensing Orion software to replicate its 325-employee act in Denver
November 6, 2019 at 11:35 PMTo keep adding $2 billion annually, 150-year-old patriarch got 'disruptive' software,' a new RIA in Denver, Colo. and plans to reap its second HQ's home cooking
Charles Schwab, a true American oligarch, shows no signs of slowing at 82, throwing his substantial fortune behind Donald Trump, hard-right politics and his continuing financial services revolution
November 5, 2019 at 3:35 PMThe billionaire is dumping San Francisco's liberal warrens for full-time residence in the exclusive enclave of Atherton, Calif., where he'll rub shoulders with other billionaires.
Charles Schwab & Co. makes mutual fund owners fume by denying access to critical RIA asset data; some call it a 'cynical power play;' Schwab calls it a OneSource streamline
November 1, 2019 at 7:42 PMCEO Walt Bettinger tells analysts profit-taking and fund consolidation could be looming after $400 million hit from zeroing-out commissions.
Crain poaches Fred Gabriel, who anchored InvestmentNews' editorial while they owned it, making it a clean sweep for new owners Bonhill Financial
November 1, 2019 at 2:39 AMSeeking Alpha Editor George Moriarty will step into editor's shoes; Gabriel will stay through November, before becoming publisher and executive editor at Crain's New York
